The state budget committee heard testimony on Thursday that state revenues are $ 3.3 billion higher than forecast for the current budget cycle. The state will have reserves of $ 5.1 billion for this fiscal year and $ 4.1 billion for the next fiscal year.
Senator Fady Qaddoura (D-Indianapolis), member of the State Budget Committee, issued the following response:
“Thanks to the US bailout and our state’s strong economic growth, Indiana will have additional tax revenues over the next two years. This is an unprecedented situation and the legislature should respond accordingly by reopening the budget to meet the needs of all Hoosiers.
“We should be looking at strategic investments that will solve the chronic problems Indiana has faced for decades. Surplus gives Indiana a unique opportunity to fully fund public schools and kindergarten, attract and retain teachers, enact targeted tax cuts to make the tax system fairer for all Hoosier families , eliminate child care deserts, send more financial resources to cities to improve public safety and reduce violent crime, and increase funding for mental health services.
“As a fiscally responsible leader and financial expert, I strongly support state-balanced budgets, healthy reserves and a responsible spending plan. With Indiana’s unprecedented budget situation, now is the time to invest these funds strategically to meet the critical needs of all Hoosiers.
State Senator Qaddoura represents Indiana Senate District 30, which includes parts of Hamilton and Marion counties. For more information on Senator Qaddoura, his legislative agenda, or other State Senate affairs, call 1-800-382-9467 or visit IN.gov/s30.